Welcome to the Insurance Institute of Kentucky
[email protected]
Insurance Institute of Kentucky
  • Home
  • About Us
  • Insurance Resources
    • When Natural Disasters Strike
    • Property & Casualty Insurance
    • Homeowners
    • Auto
    • Business
    • Life Insurance
    • Insurance Organizations
  • News
  • Issues
    • Personal Injury Protection (PIP) Auto Insurance Coverage
    • Local Government Insurance Premium Taxes (Municipal Premium Taxes)
    • The Use of Credit-Scoring in Setting Premiums
    • Municipal Emergency Response Fees (Accident Taxes)
    • Insurance and the Pandemic
  • Contact
  • Members
  • Log In

Blog

Home / News / Kentucky Adopts NAIC Model Act for Life and Health Guaranty Funds
Jun 3, 2019
Mark Treesh
News
Comments Off on Kentucky Adopts NAIC Model Act for Life and Health Guaranty Funds

Kentucky Adopts NAIC Model Act for Life and Health Guaranty Funds

Late in 2017, the National Association of Insurance Commissioners (NAIC) adopted changes to its Life and Health Guaranty Association Model Act which were designed to address
concerns arising from insolvencies of insurers writing long-term care insurance (LTCI). Prior to that revision, health insurers were responsible for the majority of guaranty fund assessments because LTCI was categorized as “health” insurance even though life insurers wrote most LTCI policies.  The revisions in the model act broadened the assessment base for LTCI insolvencies to include both life and health insurers and split the assessment 50%/50% between them, plus it provided for including HMO’s as members of the life and health insurance guaranty associations.

The Kentucky General Assembly adopted these changes in the 2019 legislative session in HB 382 sponsored by Rep. Joe Fischer (R -Ft. Thomas). The bill was supported by IIK members, and it was endorsed by the American Council of Life Insurers, as well as by major life and health insurers which do business in Kentucky. The bill passed unanimously in both the House and the Senate.

Please see here for a briefing paper prepared by the NAIC explaining the Model Act and its revisions.

← KY DOI Releases Bulletin 2019-03 on 2019 Legislation
Insurance “Innovation Sandbox” Bill Passed by 2019 General Assembly →

News

  • IIK 2025 Session Legislative Victories
  • Insurance Bills of Interest Passed in 2025
  • IIK Makes Its Voice Heard in the 2024 Legislative Session
  • Public Adjuster Regulation Legislation Passed
  • Report Card on 2023 Agenda Bills and Other Legislation

Issues

  • Personal Injury Protection (PIP) Auto Insurance Coverage
  • Local Government Insurance Premium Taxes (Municipal Premium Taxes)
  • The Use of Credit-Scoring in Setting Premiums
  • Municipal Emergency Response Fees (Accident Taxes)
  • Insurance and the Pandemic

IIK AMICUS BRIEF PROGRAM

IIK accepts applications from members and non-members to file an amicus brief in cases which could have an impact on insurance law in Kentucky. Learn more about how to apply here.

Contact Us

Insurance Institute of Kentucky
PO Box 54542
Lexington, KY 40555-4542
[email protected]

Tweets by IIKYOrg

Facebook Pagelike Widget

Our Issues

  • Personal Injury Protection (PIP) Auto Insurance Coverage
  • Local Government Insurance Premium Taxes (Municipal Premium Taxes)
  • The Use of Credit-Scoring in Setting Premiums
  • Municipal Emergency Response Fees (Accident Taxes)
  • Insurance and the Pandemic

© Copyright 2025 : All Rights Reserved - Maintained by Ledger Marketing